Thursday, 29 October 2015

ECONOMIC DEGLOBALIZATION – FROM HYPOTHESIS TO REALITY by Cătălin Postelnicu, Vasile Dinu, Dan-Cristian Dabija

The Dutch economist van Bergeijk starts [27] from the observation that, during the last years marked by the recent economic-crisis, international trade has undergone a real collapse, comparable to the one recorded during the Great Depression of the 1930s of the last century. To a certain extent, the researcher overemphasises the international trade aspects during the two periods, as well as the completely different causes that determined its breakdown. Still, van Bergeijk broadly demonstrates that the globalization process mainly caused by the international trade fl ows can be summarized in two major causes: social and economic risks and uncertainties caused by the crisis. The author warns of the danger of protectionism revival that seems to be “waiting by the corner”. Therefore, van Bergeijk interprets the decline of international trade to be a clear indication of the deglobalization process of the global economy

Postelnicu, Cătălin, Vasile Dinu, and Dan-Cristian Dabija. "Economic deglobalization–from hypothesis to reality." Economics and Management (2015). 8(2), 4.13

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